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Transfer Realestate from corp & scrop to LLC

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    Transfer Realestate from corp & scrop to LLC

    Client has one realestate property in crop (4 shareholders) and other one in Scorp (3 shareholders).

    He wants to move properties into LLC.

    (1) It is, generally, true that realestae should be owned by LLC. I think he has to take dist and pay tax

    (2) In future he may want to add property

    Thanks!

    #2
    Deemed sale

    It is actually a deemed sale at FMV and tax paid on the gain. You cannot just distribute real estate from a corp., S or C.
    I would put a favorite quote in here, but it would get me banned from the board.

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